Rap superstar Kanye West has reportedly taken out a loan to purchase a lavish $35 million mansion in Beverly Hills.
The sprawling 20,000-square-foot property, which West closed on last month, was partly funded by a $15.5 million loan, according to a report from Daily Mail.
The bulk of the loan, $12.5 million, came from Lone Oak Fund and its investment arm, Lone Oak Industries, while nearly $2.7 million was provided by a private money lender associated with fitness entrepreneurs Richard and Lucy Glassman.
READ ALSO: Diddy’s Lawyers Seek Bail Again, Cite Similar Defendants
The Glassman family, who are behind the investment, spoke candidly about the decision to fund West’s purchase.
They explained that they saw it as a secure investment, with the loan representing only 40% of the property’s value.
“If they don’t pay, we get a $35 million property,” Richard Glassman remarked, adding that the goal was to see West repay the loan without issue.
He further clarified that their motivation was strictly financial. “We’re just investors. We want to get a return on our money,” Glassman said.
The extravagant mansion features 11 bedrooms, 18 bathrooms, a guest house, a swimming pool, tennis court, and even its own waterfall.
Despite the eye-watering price tag, sources suggest that West does not intend to live in the mansion. Instead, he reportedly plans to rent it out, turning the property into a lucrative investment.
READ ALSO: Brianna LaPaglia Accuses Zach Bryan of Emotional Abuse, Claims Exes Were Forced to Sign NDAs
West’s decision to borrow money for the mansion marks another high-profile move in his ongoing ventures, blending his personal wealth with business investments.
Whether the loan will pay off remains to be seen, but for now, the mansion stands as a symbol of West’s continued rise in both music and real estate.